Sector Round Up - 08/03/2016

ScottishPower has published a feasibility study into adding a further 400-600MW of capacity to its 440MW Cruachan pumped storage hydro-electric power station near Oban.

Such a project would cost £300 million to £400 million and would take 10 years, the company said.

Hugh Finlay, Generation Director at ScottishPower, said: “A new generation of pumped storage hydro would be a major asset for electricity systems worldwide as more renewable electricity continues to come on line.”

Foresight Solar Fund has posted a profit after tax of £15.2 million for 2015, up from £8.1m in 2014.

The London-listed fund owns 16 solar farms, which together produce 338MW of power.

Alexander Ohlsson, Chairman of Foresight Solar Fund, said: “We believe the UK solar market remains attractive, and have identified a 150MW pipeline of assets that will support the growth of the company over the next six months.”